US tech billionaire Peter Thiel is a mentor and close ally of Vice President J.D. Vance. The New York Times reports He has “temporarily relocated” to Argentina.
Many interpreted this as Thiel leaving the United States and settling in Argentina. But this is not accurate. Thiel and his family remain U.S. citizens, but Thiel, 58, now lives in Argentina with his husband, Matt Danzeisen, and their children.
The move was seen as a potential hint of a permanent move out in the future, as his home state of California is set to vote on new taxes on billionaires during the midterm elections.
The New York Times reported that the billionaire spent $12 million on a 17,200-square-foot mansion in Barrio Parque, a luxury community. buenos aires Now lives there with his family. His children also attend local schools.
Viral misconceptions spread on social media
Far from what the report actually said, many explanations Like Peter Thiel becoming an expat entrepreneur. But that’s not the case.
More than 99% of Thiel’s assets and wealth are still anchored in the United States. In fact, the $12 million mansion he purchased in Argentina is his only known investment in the country to date. That’s a pittance compared to the $28 billion entrepreneur has in U.S. banks.
However, two sources cited in the report noted that Thiel had been offered Argentine citizenship due to his friendship with Argentine President Javier Milley. But he added, “It’s unclear whether he will accept it.”
What to know about California’s billionaire tax vote
As America heads to the polls in the 2026 midterm elections, california Residents will have an extra ballot to fill out. A referendum will be held on November 3, 2026 to decide on a one-time tax on billionaires who fund state projects.
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It’s called the One-time Wealth Tax Initiative for State-Sponsored Health Care Initiatives and proposes a one-time 5% tax on California residents with a net worth of more than $1 billion. The funds, which will be available during the 2026-27 tax season, will be used for health care programs, K-14 education and food assistance, the plan said.
Notably, for Thiel, this equates to nearly $1.4 billion of his $28 billion net worth.
Democratic Gov. Gavin Newsom strongly opposes the bill and has been campaigning against it. “The evidence is out,” he told POLITICO in a recent interview. “The impact is very real — not just the substantial economic impact in terms of revenue, but also the indirect impact on startups… People are questioning the long-term commitment, the medium-term commitment.”
